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the interest of the middle class and the protection of social security, medicare and medicaid for the people who are in such desperate need of those great programs that are the hallmark of our country. we have repeatedly said and our caucus again just confirmed that job creation equals deficit reduction, and we must put the country back to work. we have proposals that are on the floor. we still believe that even with the -- what little time remains and what little time remains when we're actually working, this is still possible. this is still doable. this is not a democrat or republican issue. republicans believe that america needs to go back to work. it's just a matter of having the will to do it, the programs are out there. compromise can be made around the streamlining of regulations to make sure that we are putting people back to work. if chris christy and barack obama can get -- chris cristie and barack obama can get together on that, and i know what's transpired and how the impact of our infrastructure has taken place along the eastern seaboard, it's something we ought to be able to ra
taxes on the wealthy, medicare and everything else, you are at a were higher rate? >>guest: of course, this is higher. yes. and you are talking about much higher spending. remember, that government spending is taxation. these guys don't create resources. they redistribute the resources. what they have done here with this, they have had a huge increase in taxes which is why we have the very bad who we have today. it is, unfortunately, we are never going to bring the economy back unless we get control of the spending and get toward the low rate flat tax. can you not do it. >>neil: i don't think either side has offered enough on spending. i think it is baked into the cake it is the result of election and elections have consequences. but on the wealthy i think the rates go up but with the latest proposal, why see enough to adhere to what was the debt commission in cuts, is too little too late, but, too little, more to the point. >>guest: it is too little. what really has to happen here, you are not going to get a good answer in the next two years. you have the groups going at it and they
of cleveland about health care, insurance, and medicare. this is an hour. >> good afternoon, welcome to the city club of cleveland. i'm president of the city club's burped of directors. i'm delighted to introduce to you the president and effective january 1, ceo, of humana inc, a phenomenonture 100 health care and health insurance provider and administrator serving over 11 million customers in the united states. over the recent election, at the center of the policy debate with implications beyond the health care industry impacting the largest fiscal pom aand larger concerns. fortunate to have with us him here to share insights on the industry and the developing policy. prior to joining humana in 2011, he was an executive, and before that, u.s. oncology, large producers and providers of health care products to to major health care institutions. with that background, he brings to the podium today a broad perspective on health care issues facing the country. he holds the undergraduate degree from texas a&m, and mba from university of houston. we are looking forward to your comments toda
know, medicare only covers about 80% of your part b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, they cover some of what medicare doesn't pay. and could save you in out-of-pocket medical costs. call today to request a free decision guide to help you better understand medicare and which aarp medicare supplement plan works best for you. with this type of plan, you'll be able to visit any doctor or hospital that accepts medicare patients... plus, there are no networks, and you'll never need a referral to see a specialist. there's a range of plans to choose from, too. and they all travel with you. anywhere in the country. join the millions who have already enrolled in the only medicare supplement plans endorsed by aarp, an organization serving the needs of people 50 and over for generations... and provided by unitedhealthcare insurance company, which has over 30 years of experience behind it. call today. remember, all medicare supplement
recently spoke to the club of cleveland about health care, insurance and medicare. this is an hour. [inaudible conversations] >> of doctrine and welcome to the city club of cleveland. thank you it shall come the president of city club is. i am delighted to introduce to you today, so when can president effective january 1, ceo of separate ink, and managed health care and insurance provider and administrators serving over 11 million customers in the united states. over the past four years and into the recent election, the issue of health care has been at the center of our nation's great policy debate and implications beyond the health care industry impacting our larger fiscal policy and important social concerns. we are fortunate to have a test today mr. broussard insights on the industry in developing policy. prior to joining humana 2011, mr. broussard, u.s. oncology. large producers and providers of health care products to major health care institutions. that background, mr. brousard brings a broad perspective on health care issues facing our country. mr. broussard holds his underg
are popular. you want more medicare cuts show me what you want and i think this is a perfectly normal negotiation and i was thinking on the way here, chris, you and i have an advantage in this. you and i covered albany, new york on the state legislature there, where you had a divided legislature, unbelievably contorted by budget fights and in the end they usually made a deal. it was complicated, sometimes it was ugly but they got to a deal. >> but they often got to it very late as you'll recall and state workers didn't get paychecks. >> this did happen. but they got there. and i ambiting more on a deal than not. i think there are some compromise points, for example, raise the top rate almost to where obama wants it and fill it in a little bit with some reduction in deductions. that's not impossible to imagine. but i think the notion that the republicans don't have to put anything on the table, i think those days are over and it's time for them to say all right here's what we want. >> can't come as any surprise to the republicans no matter what they want to say about it the president w
for medicare, for example. i'm not sure that that's a trade that they are eager to make immediately. >> let me show you the side by side comparison. the president wants $1.6 trillion in revenue and republicans want to cap the same deductions for the rich but republicans want to change the age to 67 and change the way they calculate social security payments. i wonder, though, when we look at these numbers, are we that far apart in. >> i think they are definitely rather far aare part at this moment in time. yeah, absolutely. >> so there are so many ways that any of this could affect the average tack payer, obviously if taxes go up. but what about funding to states and localities. i know that one of the things that they are concerned about is that when you make cuts, that essentially those cuts are going to come on their budgets. what could happen in a meeting like this between bipartisan governors and the president? >> obviously they will talk about more costs moved to the state. costs are being moved to the states and state budgets and most are not in a position to absorb additional cuts. >> it
out for the interests of the middle-class and the protection of social security, medicare, and medicaid for the people who are in such desperate need of those great programs that are the hal. this is not a democrat or republican issue, the republicans need a map -- issue. compromise can be made to make sure we are putting people back to work, that chris christy and barack obama can get together on that. i know this is known firsthand of what is transpired and how the impact of our infrastructure has taken place on the eastern seaboard, it is something we ought to be able to rally around immediately. everyone deserves a $250,000 tax break. we all agree on that. why not just simply adopt it. then come back and we will have time to address the issues as they relate to bending on health care. and focusing on the vast inefficiencies, the fraud, abuse. $750 billion annually. the chairman, from my district, said, it would be a way for us both to bring down the deficit, but also make health care affordable, a sensible, and functional for the american people. something i believe we
-seltzer on facebook. [ male announcer ] it's that time of year again. medicare open enrollment. time to compare plans and costs. you don't have to make changes. but it never hurts to see if you can find better coverage, save money, or both. and check out the preventive benefits you get after the health care law. ♪ open enrollment ends december 7th. so now's the time. visit medicare.gov or call 1-800-medicare. >>> now for a what in the world segment. a curious thing happened in the days following barack obama's election. a group of texans filed a petition. they wanted it can to succeed from the not so united states of america. the movement spread further encompassing each of the 50 states in the unions. it's a ridiculous exercise that will go nowhere. there are some real impulses across the atlantic. europe will have a new state. look at katacatalonia. the vote follows an unprecedented demonstration in september when about one million catalons marched the streets demanding state hood. the entire population is only about 7.5 million. the next step could be a public referendum on breaking away. consid
in cuts both in the form of cuts to entitlements, and other, like, medicare. and then some limiting of farm subsidies. and then $50 billion in additional stimulus spending, and some other measures. those are some of the -- just the big highlights, brooke. and i would add that secretary gheit meeithner made clear over weekend that the tax increases they would like to see would be a return to the clinton era rates for the top 2%. and some of this, you know, is what he laid out with the president laid out after the debt deal last year. so it is a proposal that is familiar from the white house, not something fresh and new. so the white house says, you know, the republicans shouldn't be shocked. republicans are saying we're shocked because it's not a compromise. they were expecting something different and more -- more -- more of an outreach and they say it didn't do enough to win them over. >> as you point out, the ball is in their court. we'll see how and when they respond. jessica yellin, thank you. keep us posted on the president's tweeting today as well. and i don't know if you caugh
announcer ] are you considering a new medicare plan? then you may be looking for help in choosing the right plan for your needs. so don't wait. call now. whatever your health coverage needs, unitedhealthcare can help you find the right plan. are you looking for something nice and easy? a medicare advantage plan can give you doctor, hospital and prescription drug coverage all in one plan... for nothing more than what you already pay for part b. you'll also have the flexibility to change doctors from a network of providers dedicated to helping you stay healthy. call now to learn more. unitedhealthcare has the information you need so you'll be better prepared when making medicare decisions. maybe you'd just like help paying for your prescriptions. consider a part d prescription drug plan. it may help reduce the cost of your prescription drugs. remember, open enrollment ends friday, december 7th. call unitedhealthcare to learn about medicare plans that may be right for you. call now. gregg: welcome back. right now a look at some of the crime stories we're keeping a close eye on. authorities say
, means testing on taxes? medicare for more affluent recipients, excluding my wife? >> let me just say that we would support a balanced approach, and it is important to point out, as senator warner did, that we have done over $1 trillion in cuts in the next 10 years which the president is committed to keeping. with respect to medicare, we do have a very different approach to dealing with medicare. there is no doubt we have to bring down medicare health-care cost growth. the difference is that we believe we should expand on the kind of reforms that we made in the affordable care act, where we achieved billion about $716 billion in savings, not simply by across the board provider cuts, but by changing the incentive structure, the way we pay providers so we focus on the value of care, not the volume of care. i think it is ironic that we have gone in the last four weeks from many of our republican colleagues criticizing the president for having done too much in savings on medicare, $716 billion -- their presidential candidate proposed putting that money back in, in other words adding $716
years. i think that there are significant reforms in medicare, medicaid, agricultural subsidies, and other programs in the budget. those are difficult things to implement. it takes a lot of guts to propose those things. i would not discount them. they are important. to answer your question more specifically, we do name or spending cuts to get to my ideal. -- we need more spending cuts to get to my ideal. >> policymakers need to reform entitlements. i do see members of the other party -- most notably, mr. hoyer --he said, not now. they are on the table for a later discussion. i have been disappointed that a lot of the discussion seems to be on the revenue side and not really on the cutting side. really quickly, the debt ceiling. there is something about your testimony that caught my attention, which is your support for the initiative offered by senator rob portman. lawmakers can adopt a version of the so-called dollar rule to address the 2011 debt ceiling. policymakers could agree at the beginning to cover that here -- year's budget. they could -- adopting some form of this rule
such as social security and medicare, 65%. 64% creating jobs, 64% improving public education, growing the economy, creating a business environment that allows for innovation. lowering the federal deficit actually false down to 40. not as much confidence there as a part on the other side. we been said the training faces a number of challenges including but not limited to large budget deficits, national debt, slower economic recovery, high unemployment, deep political divide on many issues. do you believe we will overcome these challenges in the foreseeable future as we've done in the past, or do you think these are unique set of challenges that are so serious that we might not be able to overcome those challenges? two-thirds of voters, 67%, say we will be able to do that. 31% have concerns about it. look at the bars across the bottom. the ones like younger voters, 18-29, confident we'll get there. african-american voters, 85%. hispanics 66. and those are the fundamentals of the democratic party, 85% of democrats saying it will improve. in which of the following closest to coming to think the presi
of hands around for the holidays. [ male announcer ] are you on medicare? do you have the coverage you need? open enrollment ends friday, december 7th. so don't wait. now's the time to get on a path that could be right for you... with unitedhealthcare medicare solutions. call today to learn about the kinds of coverage we offer, including aarp medicarecomplete plans insured through unitedhealthcare. these medicare advantage plans can combine parts a and b, your hospital and doctor coverage... with part d prescription drug coverage, and extra benefits... all in one complete plan... for a $0 monthly premium. no more than what you already pay for medicare part b. unitedhealthcare doesn't stop there. we'll cover 100% of your preventive services... like an annual physical and immunizations... and you'll have the flexibility to change doctors within one of the nation's largest networks, dedicated to helping you live a healthier life. other benefits can include vision and hearing coverage -- and the pharmacy saver program gives you access to prescriptions as low as $2... at thousands of pharmacies
. there was no medicare. it has been pretty stable since 1980. it goes up and down with the business cycle, but it is pretty stable. this is the division between the right and left. who will continue to fight about bigger government and smaller government. we will not do it by refusing to pay for the government we have, thinking the economy in the process. that would be a good start, as a backdrop. i want to touch on your question about corporate and individual taxes. the third piece is small businesses. we work out how develop a tax code that is good for competitiveness. you need to think about how those play into it. i think one of the things to keep hearing through messages with different groups of people is, while everybody is aware that the solution is going to take sacrifices from all sides, on spending, on revenues -- the confidence you get for putting the deal in place to actually has tremendous economic benefits. the cheapest form of stimulus is confidence. if we can put that in place, and people believe something is going to stick, it becomes easier to do your part in all of this
to issues such as the extension of unemployment benefits, social security, medicare, freidman would have argued that it's the better course to cut spending in those areas now rather than defer indefinitely on making real spending cuts. the current agreement was hammered out in august of 2011. what typically happens is that spending cuts are promised in the future, but they never materialize, the taxes are raised anyway. that is exactly what would happen under this circumstance, taxes would be raised, spending cuts would be promised in the future but when that deadline is reached we won't make the spending cuts. so at this point in time what is really being talked about is strictly a tax increase and freidman would have opposed that. jenna: i don't need to tell you that, there's certainly been critics of milton freidman out there. if you take the criticism together this is what they say. there is a time and police for government, there is a time and place where government can serve the economy, and that was opposed to what milton freidman said, but in general, you know, what do you think
] it's that time of year again. medicare open enrollment. time to compare plans and costs. you don't have to make changes. but it never hurts to see if you can find better coverage, save money, or both. and check out the preventive benefits you get after the health care law. ♪ open enrollment ends december 7th. so now's the time. visit medicare.gov or call 1-800-medicare. >>> about a week after our election in america china announced a new set of leaders. seven men who will manage the running of the world's number two economy. we have paid too little attention to this changing of the guard. will they take on corruption? will they reform the economy. what will their foreign policy look like? i have to great guests to shed light on all of that. welcome. and the new yorker china correspondent. liz, you have a very tough blog posting on the excellent council on foreign relations website which you say china's 18th party congress was a heartbreaker. it was a triumph of the party's skrif -- conservative click. the candidate will the strongest credentials were left high and high. they to
the combination of expectation of the 2001 tax reduction for the top 2% and the extension of the medicare act and capital income. under the president's preferred tax policy, the top rate would go from 35% to 49.9% for ordinary income -- and for ordinary income from 15% to 25%. the long-term consequences of president obama's tax policies would have a profound and negative affect. capital stock would be dollar -- would fall. fewer jobs and lower wages resulting in higher taxes would harm the middle class. data reveals three important facts of high income earners. the taxes on the wealthy raise as much faster than on everyone else during economic booms, but they also fall much faster during economic bust. people bit more income when tax rates are low and not when they are -- report more income when tax rates are low and not when they are high. there are better ways to increase federal revenues than hiking tax rates. congress could enact a program of tax reform that would lower rates and eliminate interest reductions. the president could open up more federal lands and offshore areas for energy ex
to make a deal on medicare than they would on obamacare. connell: force social security, like you said. dagen: and the president's plan, they want more stimulus spenddng. long-term unemployment benefits. >> these do not work. what i think we have seen over the last 40-50 years is reducing the tax burden on employers and finding a way for the private sector to be creative. the reality is, if you keep that payroll tax down, that is keeping money out of social security. connell: great to see you, as always. dagen: little hope and improved job creation in this country. is that actually, follow me here, a good thing works like the dirty secret is, we cannot have an economy that grows too fast because interest rates will go off. be careful what you wish for. >> of course. it is wonderful. we are distracted by the fiscal cliff. let there be a economic growth. interest rates would go up. interest rates will stay reasonably low. we should be glad that we have this economy. either we really go down the cliff or let some growth kick in and indeeddwhat happens, interest rates will go up. ultimatel
to do $400 billion in medicare and other entitlement savings. >> that's true. and they've also said that they're willing to be flexible beyond that. they won't talk about the numbers with us and the press and public. we know they won't negotiate the public. i asked them, will you go beyond -- essentially, will you go beyond that? they said, yes, we're open to negotiating. the bottom line is they indicated that they are willing to do more than that. that they're willing to open up what they were talking about during the debt talks. it comes to changing eligibility ages for some of these entit entitlement programs, raising -- changing the caps -- indexing for inflation, et cetera. they'll do it. but they want to start talking numbers with republicans. so, yes, they're willing to do more cuts. but they want the republicans to agree on revenue first. and they're emphatic that republicans aren't willing to talk about the revenue and so they can't start the negotiations. and this all for this week, but these numbers they came out with this week were an effort to try to prod some sort of s
and other health professionals who helped us achieve the highest average star rating among national medicare companies... and become the first and only national medicare advantage company to achieve a 5-star rating for a medicare plan... your efforts result in the quality of care and service we're able to provide... which means better health outcomes... and more quality time to share with the ones who matter most. i love you, grandma! [ male announcer ] humana. ♪ stuart: it seems like there is less interest in going to the stores. online sales topped $20 billion. that is up 15% compared to last year. twenty-nine days until we fall off the fiscal cliff. timothy geithner says the ball is in the republican report to compromise. >> i cannot promise that. that is a decision that lies in the hands of the republicans. if they recognize the reality that we cannot afford to extend those tax rates, we have a basis of an agreement. stuart: how was that for an introduction. before we launch into your talking points, and i know you well, i want to mention this. the founder of cosco, as you know, he app
achieve the highest average star rating among national medicare companies... and become the first and only national medicare advantage company to achieve a 5-star rating for a medicare plan... your efforts result in the quality of care and service we're able to provide... whicmeans better health outcomes... and more quality time to share with the ones who matter most. i love you, grandma! [ male announcer ] humana. ♪ every human being is unique. and there is one store that recognizes it. the sleep nuer store. the only place in the world you'll find the extraordinarily comfortable sleep number experience. an exclusive collection of innovations that totally individualize your sleep. perfectly comfortable pillows that adjust to your size and shape. temperature-balancing bedding. dual warmth comforters. all designed around thesleed with dual-air technology that allows you to adjust to the support your body needs. each of your bodies. in the name of human individuality: the sleep number collection. discover how our sleep professionals can individualize your sleep experience. exusively at one
revenues, you've got to talk cuts. you have to talk reforms. you've got to talk trust funds and medicare and entitlements. >> 20-something days to do that. >> these are things that we have been talking about for years. the fiscal cliff is a name that the media came up with, but some of us have been saying for years, you have got to stop the out of control federal spending or you're going to end up at this point, we're there. >> congress mon cole, i just want to remind folks of something that you have said about the middle class tax cuts and letting them go on and also your reply to that. i just want to play that to get our viewers up to speed. >> in my view, we all agree that we're not going to raise taxes on people that make less $250,000. we should just take them out of this discussion right now. >> he has his idea, i don't want to raise taxes on anybody. >> is the split i think inside to the republican caucus? >> i think it's more of a discussion on tactics. none of us want to raise the rates on anybody, but the reality is, the rates go up on everybody at the end of the months. to me,
in savings over a decade. that includes raging the eligibility age for medicare from 65 to 67. and lowering cost of living increases for social security benefits. they also propose overhauling the tax code to generate $800 billion in new revenue. but without raising taxes on the wealthy. in a letter to the president, leading republicans compared their plan to one erskine bowles drew up last year. >> not even close. >> he rejected that connection and the white house, of course, is hitting the road. we'll get to that in a moment. but here's my question. i've been watching the coverage of this and reading it. and there's a lot of liberals who were like, he won, ha, ha, they're so arrogant about it, it's hard to like them. because it's just not attractive. but he did -- >> yeah, he won. >> and he is going to the american people with this. and why can't the starting point of these negotiations be about the tax rates and go from there. why are we at square one? and why is this on the president at this point? since he won. i understand the first four years being kind of bruising. >> right. >> but
the highestverage star rating among national medicare companies... and become the first and only national medicare advantage mpany to achieve a 5-star rating r a medicare plan... your efforts result in the quality of care and service we're able to provide... which means better health outcomes... and more quality time to share with the ones who matter most. i love you, grandma! [ male aouncer ] humana. ♪ melissa: says the color of money is a new favorite for 2013 and we have charles payne to help you make some. we're looking at a retail investment with a rather green history. charles: the color of the year is emerald, a shade of green. we're going to talk about jcpennejcpenny and their green y and journey. november 2011, and he is the one. it is worth a billion dollars, everybody is jealous of the guy. february 2012, nauseating. the stock exploded to the upside. investors missed it. this documenthe stock then begio freefall of a series of bad news in science perhaps the tragedy is not working. melissa: it is like a palm. charles: september 2012, deficient in knowledge, the stock rebounds. this is
and other health professionals ho helped us achieve the highest average star rating among national medicare companies... and become the first and only national medicare advantage company to achieve a 5-star rating for a medicare plan... youefforts result in the quality of care d service we're able to provide... which means better health outcomes... and more quality time to share with the ones who matter most. i love you, grandma! [ male announcer ] humana. ♪ connell: it is a quarter past the hour, just about. let's go to nicole petallides at the new york stock exchange. nicole: there you go. i am glad it is working. let's take a look at lulu lemon. the stock is actually higher. you think of maybe overpriced deals. they are very good and very good quality. it is based in canada. the stock is to the upside. part of a profit and the analysts expectations. the one thing that we should note is sales growth has actually been slowing. that is not a good sign, the winning numbers therefore lulu lemon. let's take a look at the broader market, as well. we are all waiting on the jobs report tomorrow
's not letting up anytime soon. if you're eligible for medicare, you might know it only covers about 80% of your part b medical expenses. the rest is up to you. call now and find out about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, they help pay some of the difference. and could save you in out-of-pocket medical costs. you'll be able to visit any doctor or hospital that accepts medicare patients. plus, there are no networks, and you never need a referral to see a specialist. so don't wait. call now to request a free decision guide to help you understand medicare. and which aarp medicare supplement plan might work best for you. there's a range to choose from, depending on your needs and your budget. and they all travel with you -- anywhere in the country. best of all, you'll be joining the millions who have already enrolled in the only medicare supplement insurance plans endorsed by aarp, an organization serving the needs of people 50 and over for generations. ♪ remember, all medicare supplement ins
's what you'd get from entitlement reform. from reforming medicare, and doing some cuts there under this plan. but compare it to the white house plan, very different than what's on the table there. $1.6 trillion in new taxes. that is two times the amount in the boehner plan, and also, of course, includes increasing those income tax rates for the wealthy. $400 billion to medicare and other entitlements, that's $ 00 billion less than in the speaker's counteroffer and this would force congress to give up its debt limit vote which is a nonstarter for house republicans. the white house saying that boehner counteroffer is nothing new, that it lacks specifics. but i will tell you, zoraida, that one house democratic aid telling cnn that it passed the laugh test. so certainly i guess it could have been worse in some estimations by democrats. >> i suspect some people were laughing. brianna keilar live at the white house for us, thank you. in the next half hour, we'll talk about the prospect for a fiscal cliff deal with california's democratic congressman xavier becerra. >>> the rain and flood
a trillion dollars in savings to medicare without doing any harm to beneficiaries and extended the life of medicare. what is lacking are the revenues. you cannot cut your way to deficit reduction. what does reduce the deficit are jobs, job creation. have the spending cuts, we have the medicare savings, what we need are the revenues. and that is what you have to ask the question, why are we not here to pass the middle income tax cut which unleashes the high end -- increases the high end contribution to the budget talks. why are we not here to pass the middle income tax cut? why are we not here to even debate the middle income tax cut? could it be because the republicans are holding the middle income tax cuts as they have all along hostage to tax cuts for the wealthy? as long as they will not touch one hair on the red or get one red scent from the high end we will never have the revenue with the save togs reduce the deficit, to create jobs and grow the economy and improve the lives of the american people. >> [inaudible] as i've cede before than subject, what we want to do is protect the m
, more people are out of work. it means that we do not have money to pay for basic benefits like medicare and social security. it is important to talk about deductions and tax policy in terms of tax reform. john boehner opened the door for that. president obama has indicated no intention of looking at that. host: what deductions would you put on the table? guest: tax reform is not to raise revenue. is to make the tax code less of a drag on the economy. we do that by lowering tax rates and getting rid of some deductions, exemptions, credits. but we do not do it to raise revenue. host: chuck marra, how important our deductions? guest: they are very important. if you get into this notion that they are loopholes, then you look at the very popular deductions the people rely on. they're trying to balance the economic weakness with the long-term needs of the economy, which is that we do face a future of deficits that are unsustainable. we are trying to stabilize the debt has a share of our economy over time. that means about $4 trillion in savings. the good news is, last year, the congress and t
't be sound and solvent for future generations. for example, medicare's hospital services program is in serious financial trouble. in a report this spring, the medicare trustees cautioned that the trust fund that covers the program's hospital services will be depleted and consequently insolvent by 2024. the fact is, we can accomplish entitlement reform in a way that doesn't change programs for people at or near retirement yet ensures that those programs will be there for our children and grandchildren down the road when they need them. republicans and democrats should be able to come together, as should older and younger americans, because thoughtful entitlement reform is in everybody's interest. and, finally, we need to control our spending. our federal deficit for the fiscal year 2012 was $1.1 trillion, and our national debt is now more than $16 trillion. that is unsustainable. more revenues from tax reform and economic growth combined with entitlement reform and controlling spending will reduce our deficit and our debt, and there is no question that we can do it. for example, w
in medicare. he has said that if we can protect ninety 8% -- 98% of americans and 97% of the businesses, if we can agree, all he wants to do is let taxes increase on billionaires and millionaires. that is all he has said. he has said he will then talk about entitlement. he will put -- we have to balance the budget. we need to do that for our children. we cannot do it without reduced -- reducing spending. and he has said he will do that. >> chip, we just heard from scott rasmusson and the polster spoke to colleagues and said democrats and the president are winning the pr war here. why aren't republicans doing a better job explaining what it will mean for our children and grandchildren if we continue every year to run up the federal debts? >> i saw that segment with scott. the problem is do you want to pay more in taxes or will the rich pay more in taxes? the other guys should pay more in taxes. the top 1% in this country pay 40% of the taxes. that's not fair. i wish the president would tell me what is fair? the top 10% pay 70% of the taxes. is that fair? do they want to pay 100% of the tacks?
biggest drivers are medicare, medicaid and social security of our debt. [ buzzer ] >> computer says no. >> stephanie: does david gregory correct the statement or challenge credibility? no! once more, this ridiculous fib goes unchallenged. the truth is our national debt began to skyrocket under george bush with medicare part d fiasco. year under year under george w. bush, deficit came in at $500 billion. it is finally year of 2007-2008 president obama inherited the mess of trillion dollar annual deficits but none of this has been caused by medicare or medicaid. >> obviously entitlements. those lazy 47 percenters. >> stephanie: maria and david gregory should know better. >> yeah, they do. they're both major news anchors of major news networks. >> they're paying them lots of money to say lies. >> stephanie: the real culprits are the lack of revenue caused by the tax cuts. oh, he sent a helpful pie chart as well. >> we love pie charts. >> we love pie. >> stephanie: i love pie charts and graphs. the military s
there is a big challenge. there are problems with medicare and social security. they are facing big deficit situations. host: what motivates the creation of deductions? what about the other incentives? mortgage deduction it to encourage people to buy a home. guest: some of the deductions have been around forever, since the invention of the income tax. there has always been a deduction for interest that you paid. the government didn't think it could distinguish between mortgage interest and other kinds of interest. less interest is deductible now. some of the things are left over from the early days of the tax code. there is no magic about allowing people to deduct mortgage interest and not the interest they pay on their credit cards. some of these things are hard to explain. host: does it incentivize home buying? guest: it does provide some if incentive for buying a home and is a large tax break and gives them an enormous benefits. it mostly provides an incentive for buying a bigger house. it seems to incentivize mcmansions. there is a fair question of whether that is something we should be
revenues. it did contain four specifics. four. cut medicare specific number one. $600 billion. cut medicaid, pays for nursing homes for seniors, of course. priority number two. three, cut the adequate cola for seniors on social security. even though 40% of seniors depend principally or totally upon social security and the cola already underestimated inflation particularly for medicare, essentials they need. cut that. not a driver of the deficit but, hey, cut that. one more specific. preserve the bush-era tax rates for income over $250,000. it's not a tax increase for everybody who earns over $250,000. it's only the income over $250,000 that would get additional taxes if the bush-era rates went away and the president's proposal was passed. but, no, they want to preserve -- totally preserve tax cuts for income over $250,000. they want to preserve the reduced capital gains rate and dividends rate which principally who ben pets, who else, millionaires and billionaires. now -- benefits, who else, millionaires and billionaires. they did have the jay wellington wimpy plan. you remember him? popeye
-- the spending cuts on medicare. why don't we allow them to negotiate medicare and to reduce the cost of medicine? that should save you a lot of money yearly. i agree totally about the republicans and democrats spending money stupidly just before the election. both sides voted to refurbish something like 170 army tanks that the army said they'd do not need. they went and voted to repair those tanks. why are we wasting our money? democrats want to cut taxes. host: armstrong williams? guest: we haven't gotten to affordable care and medicare and medicaid. if affordable care was administered correctly and if he did not have the special interest groups and if tort reform was not included, package you move forward in making health care work for anyone if you do not bring tort reform to the table? the medical malpractice lawsuits are out of control where doctors are paranoid and have to think twice before going through these procedures. it becomes a nightmare for doctors. there are too many hands in the pot. the mentality in washington is that everybody has to get paid so they can be compensated. when a
for medicare, which is the really greatest driver of the debt right now. of course, social security is also an issue we have to look at. we have 85 trillion worth of unfunded labilities now, and that's not talked about. the $16 trillion in debt is what we hear. there's $85 trillion in unfunded liabilities there, and we already put a plan on the table in our path to prosperity, a plan that did give seniors more choice and access the, a support program, and that would have helped to start to bring that cost curve and bend it. tracy: what's it take to get it done? i think everyone wants to, like, sit down to the holiday meal knowing this is something they will not have to worry about the next day. >> well, i think that takes seriousness to come to the tail, be adults, and talk about the tough issues, and spending is the problem. when we hear the administration continue to talk about putting tax on the small business owners, 1 million will be affected by the tax. 700,000 jobs will be lost. the economy will shrink again rather than grow, and that's not where we need to be. tracy: come to the mid
to the affordable care about, over $1 trillion in savings in medicare while extending savings what is lacking are the revenues. deficit-reduction. what does reduce the deficit is jobs. job creation. what we need are the revenues, and that is what you have to ask the question about. why are we not hear to pass additional tax cuts which increases the high-end contribution to the budget talks? why are we not here to pass a middle-income tax cuts? what are we not even here to debate the middle-income tax cut? can it meet because the republicans are holding this as they have all along hostage to tax cuts for the wealthy? as long as they will not touch one hair on the head or get one red cent of their rich, to reduce the deficit, to create jobs, to grow the economy, to improve the lives of the american people -- >> the speaker was asking about middle ground. do you necessarily rule it out? is it your understanding that that is something he would accept? >> what we want to do is protect the middle class. is not above the rate. it is about the money. the objection to extending it is about being punit
care inflation is a significant driver of medicare escalating before us, what do you think should be done to control that inflation? i heard what you said about medicare. that is -- no matter what you do, you still have this inflation going on. it is major. >> let me say a few things. health care inflation in the last couple of years has slowed quite sharply. it has been about 3.5%. it is very positive developments. some of that probably is due to the weak economy, which means less demand for services. some of its likely is do to the affordable care act. there is growing evidence of that. we do not know for sure. there are some positive experiences in the affordable care act that could reap benefits. the insurance exchanges, the independent payment advisory board. we will have to see how that works out. most encouraged about the cadillac tax. this is a tax on gold-plated health insurance policies for folks like me. i get a very good health care package. if i get sick, i am unfettered in terms of my health-care consumption. it will make it more costly and i will start shopping for
of the 2001 tax reduction for the top 2% and the extension of the medicare act and capital income. under the president's preferred tax policy, the top rate would go from 35% to 49.9% and for ordinary income from 15% to 25%. the long-term consequences of president obama's tax policies would have a profound and negative affect. capital stock would fall. fewer jobs and lower wages resulting in higher taxes would harm the middle class. data reveals three important facts of high income earners. the taxes on the wealthy raise as much faster than on everyone else during economic booms, but they also fall much faster during economic bust. people report more income when tax rates are low and not when they are high. there are better ways to increase federal revenues than hiking tax rates. congress could enact a program of tax reform that would lower rates and eliminate interest reductions. the president could open up more federal lands and offshore areas for energy exploration. his administration could take a more balanced approach to new regulations. economic growth can help solve our fiscal prob
? >> the bulk is going to entitlement programs like social security, medicare, medicaid. that's mandatory spending. it's been budgeted based off of what we spend on our taxes. the bulk of it is going there. 20% is going to defense. discretionary spending about 13% then the 7% interest which is the interest that we are paying on our debt. that's also mandatory. we have to make good on our debt. >> which is why anybody serious about the debt says you have to look at entitlements. based 0en that. where are the areas for compromise? >> so when you look at where they're talking about cutting spending, it's in the discretionary category. about $600 billion in discretionary spending is on the table now. when you actually look at the programs like social security and medicare, one of the ideas for compromise that's been on the table is increasing that age. the availability of medicare begins at 65. if you were to increase it to 67, about $250 billion in savings. also, if you look at medicare cost sharing. this is from the provider. if you go back to the providers to provide medicare and say to th
national medicare compaes... and become the first and only national medicare advantage company tochieve a 5-star rating for a medicare plan... your efforts result in the quality of care and servic we're able to provide... which means better health h outcomes... and more quality time to share wi the ones who matter most. i love you, grandma! [ male announcer ]umana. ♪ stuart: f you have ever sent a text message that you wanted to immediately take back, that you wished would just disappear, listen to this. law enforcement is calling on congress to force the wireless companies to store those text messages for two years, in case police need them when investigating a crime. that's new at 10:00. and the judge, judgg napolitano will -- [laughter] stuart: but the big story this hour is john boehner's counteroffer to the president, immediately dismissed by the way. it includes 800 billion dollars in tax revenue, not from higher tax rates. that is the sticking point. president obama wants those tax rates raised. john boehner, he wants fewer deductions, limits on deductions. that's the status quo r
who want to cut medicare and social security, which is deeply unpopular. they don't want that on tape. they said to obama well, we don't want to make those cuts that are clear here because it would be counterproductive. you see what i'm saying, the republicans don't want to do that. >> both parties don't--to me, i don't believe want to do much of anything. how many people out there in america so many people watching the show actually know what they're talking b because we don't believe that they know what they're talking about. >> cenk: i think in the end--don't worry judah, i think you'll get the deal that you like a lot. >> as a conservative, and i just want to say this, i'm one of those more newer conservatives in the sense that i'm the person without a party right now. because i don't necessarily agree with everything that they're doing. but i don't necessarily agree with what the other side is doing, either. >> cenk: you and me, both, brother. and there are things that i disagree with the democrats on. so tell me why you consider yourself a conservative. in the grand bargain obam
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